Average Price: Utility (Piped) Gas per Therm in Chicago-Naperville-Elgin, IL-IN-WI (CBSA)
APUS23A72620 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.05
Year-over-Year Change
8.16%
Date Range
11/1/1978 - 12/1/2024
Summary
This economic trend measures the average price of utility (piped) gas per therm in the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. It provides important insights into regional energy costs and consumption patterns.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Average Price: Utility (Piped) Gas per Therm in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) series tracks the average price paid by consumers for natural gas delivered through pipes in this major Midwest metropolitan area. This data point is used by economists and policymakers to monitor regional energy market conditions and the impact of factors like supply, demand, and regulation.
Methodology
The data is collected through surveys of local utility companies.
Historical Context
This trend is relevant for understanding residential and commercial energy expenditures in the Chicago metro area.
Key Facts
- Chicago metro area has a population of over 9 million.
- Utility gas is a major heating source for homes and businesses.
- Prices can fluctuate based on supply, demand, and regulations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price paid by consumers for utility (piped) natural gas per therm in the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This data point is important for understanding regional energy costs and consumption patterns, which impact household and business budgets as well as broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of local utility companies providing natural gas service in the Chicago metro area.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to monitor energy market dynamics and the impact of factors like supply, demand, and regulation on consumer costs in the Chicago region.
Q: Are there update delays or limitations?
A: There may be a lag of several weeks between the end of the reporting period and the data release, and the survey sample may not capture all suppliers in the metro area.
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Citation
U.S. Federal Reserve, Average Price: Utility (Piped) Gas per Therm in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) (APUS23A72620), retrieved from FRED.